The truth is that there is a Silver Lining in the current market.
Affordability is high. The Housing Affordability Index that measures the ability of a typical American family to qualify for a mortgage based on the median-price for and existing single-family home. A score of 100 indicates that the typical family would have the exact amount required on a 20 percent down payment and monthly payments of no more than 25 percent of their household income. Currently, the index is at 135.2, which means the average American family not only can afford to purchase a home, but will also have excess money for living expenses.
The selection is vast. It continues to be a Buyer's Market. You have more homes in which to choose from.
Owning a home is still one of the Best Long-Term Investments you can make. Historically, homes appreciate, despite short term spikes.
Don't look back wishing you would have purchased real estate when I can show you how!
Source: Buffini and Company